Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
Grand View Research’s ferroalloys industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.
Access the Global Ferroalloys Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.
Ferrochrome Market Report Highlights
The global Ferrochrome Market size was estimated at USD 16.77 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2019 to 2030.
- High carbon ferrochrome dominated market in 2018 with a volume share of 85.7% in 2018. It is expected to maintain its dominance over the forecast period owing to abundant reserves available of high carbon chromite ore as compared to other products.
- Stainless steel application is predicted to grow the fastest with a CAGR of 4.9% from 2019 to 2030, in terms of revenue. As ferrochrome currently has no substitute for stainless steel, it is poised to witness lucrative growth.
- In terms of volume, Asia Pacific acquired the highest share of 78.5% in 2018. This is mainly attributed to the dominant position of China in terms of stainless steel production.
- North America is projected to grow at a CAGR of 2.1% from 2019 to 2025, in terms of volume. The protectionist policies currently implemented by the U.S. government are expected to propel domestic steel production and thereby propel ferrochrome demand.
- In August 2019, Glencore, one of the major FeCr manufacturer of South Africa announced a cut in its ferrochrome production by 10% for 2019. This decision was taken owing to the electricity concerns in South Africa.
Silico Manganese Market Report Highlights
The global Silico Manganese Market size was estimated at USD 26.74 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2033.
- The increase in production cost of silico manganese is attributed to the hike in the prices of energy and raw materials along with labor shortage and logistics challenges. The energy price rise in 2021-22 primarily occurred due to the low base price in 2020. The transition toward clean energy caused prices to remain high. In addition, the geo-political tensions caused due to the Russia-Ukraine war in 2022 are expected to further contribute to the price hike
- Based on product, medium carbon is likely to register the fastest CAGR of 6.8% in terms of revenue across the forecast period. The segment's growth can be ascribed to rising global stainless steel production. For instance, global stainless steel melt shop production increased by 12.5% from 2020 to 2021 to reach 58.3 kilotons
- Based on region, in 2021, Asia Pacific held a revenue share of nearly 74.0% of the global market. The consumption of silico manganese in the region is being driven by rising investments in the building & construction industry by the governments of the region. For instance, in November 2021, the Government of Malaysia announced its plans to construct approximately 500,000 affordable houses under the 12th Malaysia Plan
- Based on application, stainless steel held the largest share of over 43.0% of the market, in terms of revenue, in 2021. Increasing penetration of electric vehicles is expected to propel the demand for the segment
Order your copy of Free Sample of “Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Ferrosilicon Market Report Highlights
The global Ferrosilicon Market size was estimated at USD 11.25 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 2.5% from 2023 to 2030.
- The deoxidizer segment accounted for the largest revenue share of over 69.0% in 2022, and this trend is expected to continue across the predicted timeline. It finds use in steel production. According to World Steel Association, in 2022, global crude steel production was 1,831.5 million tons.
- Based on end-use, cast iron is anticipated to register the fastest CAGR of 3.4%, in terms of revenue, across the forecast period, owing to the use of ferrosilicon as an inoculant in the industry
- Further, the shifting trend from non-stick cookware to those made up of cast iron, owing to growing concerns about potential health risks, is projected to emerge as the key driver for cast iron end-use segment growth over the forecast period.
- Based on region, Asia Pacific dominated the market and accounted for a revenue share of nearly 67.0% in 2022. The rising production of automobiles and investments in the construction industry are influencing the demand for ferrosilicon in the region.
- In North America, the market is projected to witness a CAGR of 2.2%, in terms of revenue, over the forecast period. The U.S. is anticipated to be the major market of the North American region over the forecast period.
Go through the table of content of Ferroalloys Industry Data Book to get a better understanding of the Coverage & Scope of the study
Competitive Landscape
The industry is expected to witness additional investments from established major companies in the next years owing to the competitive market outlook. For instance, Zimasco, a Sinosteel Corporation affiliate, has announced an investment of USD 35.0 million for the expansion of ferrochrome manufacturing capacity. A new project with an increased capacity of 72 kilotons per year is planned to start at the Kwekwe ferrochrome smelting plant. The market is expected to see more competitive rivalry as production capacities rise to fulfil the demand for steel.
Key players operating in the Ferroalloys industry are:
- Arcelor Mittal
- Brahm Group
- China Minmetals Group Co., Ltd.
- Elkem ASA
- EMCO
- Eramet Group
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